Berkeley Capital Partners LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 141.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,580 shares of the iPhone maker’s stock after purchasing an additional 6,191 shares during the period. Apple makes up about 0.9% of Berkeley Capital Partners LLC’s investment portfolio, making the stock its 18th largest position. Berkeley Capital Partners LLC’s holdings in Apple were worth $1,669,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Schneider Downs Wealth Management Advisors LP raised its holdings in Apple by 30.5% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 6,875 shares of the iPhone maker’s stock worth $1,552,000 after acquiring an additional 1,606 shares during the last quarter. Empirical Finance LLC raised its stake in Apple by 5.9% during the 3rd quarter. Empirical Finance LLC now owns 20,015 shares of the iPhone maker’s stock valued at $4,518,000 after buying an additional 1,114 shares during the last quarter. Legacy Advisors LLC raised its stake in Apple by 44.7% during the 3rd quarter. Legacy Advisors LLC now owns 10,287 shares of the iPhone maker’s stock valued at $2,322,000 after buying an additional 3,176 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its stake in Apple by 24.8% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 13,647 shares of the iPhone maker’s stock valued at $3,081,000 after buying an additional 2,716 shares during the last quarter. Finally, HWG Holdings LP raised its stake in Apple by 77.1% during the 3rd quarter. HWG Holdings LP now owns 31,560 shares of the iPhone maker’s stock valued at $7,124,000 after buying an additional 13,743 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.
AAPL has been the subject of a number of research reports. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $210.00 in a research note on Monday, March 11th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of Apple from $220.00 to $234.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $230.00 target price on shares of Apple in a research note on Monday, April 29th. Goldman Sachs Group restated a “neutral” rating and issued a $140.00 price objective on shares of Apple in a research note on Tuesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a report on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $207.57.
Shares of NASDAQ:AAPL traded down $1.41 during trading on Friday, reaching $192.74. 17,411,970 shares of the company were exchanged, compared to its average volume of 30,380,172. The firm has a market cap of $893.48 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.09. Apple had a net margin of 22.12% and a return on equity of 51.29%. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. During the same period last year, the company posted $2.73 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 11.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s dividend payout ratio (DPR) is currently 25.86%.
Apple announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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